Waste Management, Inc.
) recently declared a second quarter 2013 dividend of 36.5 cents
per share or $1.46 on an annualized basis, representing a 2.8%
year-over-year increase. The dividend is payable on Jun 21 to
shareholders of record as of Jun 7.
Based on the closing price of $41.21 on May 10, 2013, the
dividend affirms a yield of 3.5%. A steady dividend payout is
part of the long-term strategy of Waste Management to provide
attractive risk-adjusted returns to its stockholders. In
addition, decent dividend increases at periodic intervals have
been one of the company's most attractive features.
Waste Management had earlier raised the quarterly dividend payout
from 35.5 cents to 36.5 cents per share or from $1.42 to $1.46 on
an annualized basis in Mar 2013. Prior to that, Waste Management
raised its quarterly dividend in Mar 2012 from 34 cents to 35.5
cents and in Mar 2011 from 31.5 cents to 34 cents per share.
In the first quarter of 2013, the company returned $170 million
to shareholders in the form of dividends. Moving forward, Waste
Management plans to return significant cash to its shareholders
through steady dividends in the future quarters as well.
Headquartered in Houston, Texas, Waste Management is the largest
provider of comprehensive waste management services in North
America. The company provides collection, transfer, recycling and
resource recovery, as well as disposal services to nearly 20
million residential, commercial, industrial and municipal
customers. It is also a leading developer, operator and owner of
waste-to-energy and landfill gas-to-energy facilities in the U.S.
Currently, Waste Management has five operating groups including
Eastern, Midwest, Southern, Western, and the Wheelabrator. The
Wheelabrator group includes the company's waste-to-energy
facilities and independent power production plants. The company
also has a joint venture with Linde Group, which includes plant
that converts landfill gas into liquefied natural gas for use as
fuel in the company's trucks.
Waste Management currently has a Zacks Rank #4 (Sell). Other
stocks that look promising and are worth considering now are
Clean Harbors, Inc.
Fidelity National Information Services, Inc.
Green Dot Corporation
), each carrying a Zacks Rank #2 (Buy).
CLEAN HARBORS (CLH): Free Stock Analysis
FIDELITY NAT IN (FIS): Free Stock Analysis
GREEN DOT CP-A (GDOT): Free Stock Analysis
WASTE MGMT-NEW (WM): Free Stock Analysis
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